German Chancellor Angela Merkel said on Tuesday that she was ready to intervene personally to support auto parts group Magna’s bid for carmaker Opel.
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Merkel told RTL television in an interview on Tuesday that her goal was to help ensure that the Magna talks came to a successful conclusion.
“I have a clear preference for Magna and want to make that clear again,” Merkel said. “We are in constant talks. I am always informed. If it is necessary, I will join in of course.”
The Magna proposal to acquire Opel/Vauxhall has hit obstacles connected with its Russian elements. Although the German government is a strong supporter of the Magna bid (Magna has given guarantees on jobs in Germany that have gone down well as a federal election looms), GM executives are said to favour a rival bid from Belgium-based investor RHJ International.
Discussions between GM and both bidders are said to be continuing.
